Global IoT For Public Safety Market Will Reach USD 2,772 Million By 2025: Zion Market Research

According to the report, global IoT for public safety market was valued at around USD 991 million in 2018 and is expected to reach approximately USD 2,772 million by 2025, at a CAGR of slightly above 15.83% between 2019 and 2025.

New York, NY, Aug. 14, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “IoT For Public Safety Market By Component (Solution, Services, and Platform), By Application (Critical Infrastructure Security, Emergency Communication and Incident Management, Disaster Management, and Surveillance and Security), and By Vertical (Homeland Security, Smart Utilities, Smart Healthcare, Smart Manufacturing, Smart Transportation, Smart Building and Home Automation, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025’’. According to the report, global IoT for public safety market was valued at around USD 991 million in 2018 and is expected to reach approximately USD 2,772 million by 2025, at a CAGR of slightly above 15.83% between 2019 and 2025.

Regulatory agencies and government in numerous countries are working on ensuring public safety as a priority and are progressively using IoT-enabled devices. Several technologies are being used to provide extra safety for transportation, buildings, health, and manufacturing sectors. The rising demand for road safety, sensor market, and IoT will support the IoT for public safety market in the future. These technologies help in reducing road accidents, incidents at manufacturing plants, production units, and various chemicals industries. With the help of IoT sensors, the occurrence of these fatal incidents can be minimized to an extent. The increasing demand for IoT-enabled devices like smartphones, smart devices, and other wearable devices are expected to contribute to the IoT for public safety market. However, budget constraints for deploying smart devices may be a restraint for the IoT for public safety market growth in the years ahead. Moreover, enhancements in communication system have laid the foundation of advanced product launches in the IoT for public safety market.

On the basis of application, the market is fragmented into critical infrastructure security, emergency communication and incident management, disaster management, and surveillance and security. Disaster management is likely to witness substantial growth in IoT for public safety market, as it helps to ensure the safety of organizations and government institutes in detecting threats and making arrangements for emergencies like tornados, fires, power outages, floods, and man-made disasters, to safeguard citizens.

By vertical, the market includes homeland security, smart utilities, smart healthcare, smart manufacturing, smart transportation, smart building and home automation, and others. Smart manufacturing and smart healthcare sectors are expected to witness notable growth over the forecast time period. Smart healthcare is projected to grow, owing to the rising need for monitoring patients suffering from life-threatening diseases and obtaining better patient outcomes.

The North American IoT for public safety market is anticipated to hold a substantial share over the forecast time period, owing to the technologically advanced infrastructure in North American countries, increasing government spending in IT infrastructure, rising adoption of emerging technologies like smart cities, IoT, and mobility, growing concerns over data privacy.

Europe will witness noteworthy growth in the IoT for public safety market over the estimated timeline, owing to the increasing natural calamities and cyberattacks that can impact the economy negatively. Moreover, this system helps in mitigating the losses of people and governments by adopting incident management devices, climate detection sensors, and response solutions. These solutions enable the early detection of problems, thus helping operating business smoothly.

The Asia Pacific is anticipated to grow significantly in the IoT for public safety market in the upcoming years. Rising infrastructural investments by private investors and technological advancements in numerous industries to enhance their IT infrastructure are propelling this regional market growth. Moreover, Digital India initiative by the Indian government is anticipated to further support the IoT for public safety market. Rising regional population and an increasing number of road accidents are expected to boost the sensors demand in the automotive industry, thereby accelerating the market growth.

Latin America will grow considerably in the upcoming years, owing to the changes in safety standards by the government, rising need for fuel, electricity, and telecommunications. Argentina and Brazil are expected to majorly contribute to this regional market, owing to the continuously growing IoT industry, increasing adoption of automation in factories and manufacturing units to enhance output by reducing wastage. Moreover, the government in Brazil has created an “Investment Partnerships Program (IPP)” to boost the IT infrastructure along with making safer roads and hospitals. This privatization of government will further drive the market in the region.

The Middle East and Africa is expected to witness significant growth in the IoT for public safety market in the upcoming years, owing to rapid urbanization and huge infrastructural investments. Moreover, the launch of numerous measures to foster public safety and growing adoption of IoT technology have increased the penetration of IoT for public safety across different verticals.

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